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Which of the following statements are true regarding the acid$-$test ratio? $($Choose every correct answer.$)$

The acid$-$test ratio is a more conservative measure of liquidity than the current ratio.

The acid$-$test ratio uses the same denominator as does the current ratio.

The acid$-$test ratio can be calculated as current assets minus merchandise inventory minus current liabilities.

The acid$-$test ratio excludes merchandise inventory from the numerator.

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